Real estate
BY MELISSA ENAJE & AUBREY VOGEL
BY KELLY SCHAFLER
Property values rise countywide
Inspire Homes opens city’s 1st single-family rental project
Fort Bend County home value changes Increased in value Had minimal change in value
Decreased in value
Fort Bend County homeowners saw an average increase of 4.4% in residential property values from 2023 to 2024, while the market value for homes eligible for homestead exemptions saw an increase of 2.1%, according to a news release from the Fort Bend Central Appraisal District. FBCAD Chief Appraiser Jordan Wise said in the release that the Fort Bend County housing market seems to have stabilized at the beginning of 2024. “Sales volume has dipped, but historic and ongoing demand for property in Fort Bend County has kept prices relatively stable,” he said. During an April 23 Fort Bend County Commis- sioners Court meeting, Wise said key market drivers for property values increasing include: • Rising interest rates and in ation • Slowed new construction • Overall demand being lower, but steady • Inventory remaining low
What’s next The deadline to le a protest against a home value was May 15, or within 30 days of receiving a property value notice being mailed. For the last three years, more than 50% of property value protests led in Fort Bend County received a lowered negotiated value, according to data from the appraisal district. Protest data for 2024 values isn’t yet available. County o cials said property owners should take note of several upcoming dates related to when tax rates are set and when bills will be mailed out, including: • August-October: Jurisdictions adopt tax rates • October/November: Tax bills are mailed • Dec. 31: Last day to use a deduction for the same year’s federal income tax
lounge area; a children’s playground; a dog park; and a pool with a re pit, courtyard and grilling area, Dinerstein said. Zooming out Rental demand is on the rise in the Houston area, leading to leased single-family home rentals growing 6.7% year over year in the region and average rent prices nearing their peak, according to the Houston Association of Realtors’ most recent report on May’s rental market. The average rent price for single-family homes rose to $2,345 in May, tying with the price in August 2023—the second-highest average rent price recorded, per the report. Looking ahead The Dinerstein Companies plans to continue opening 30 homes per month until the commu- nity is substantially complete in August, Dinerstein said.
Developer The Dinerstein Companies opened Missouri City’s rst single-family rental commu- nity in March, premiering the rst 24 of its homes. Inspire Homes, the build-to-rent community, is set to have 186 homes upon build-out in August, Brad Dinerstein, managing partner of develop- ment and design, said in an email. The details The roughly 35-acre community has: • Homes ranging from 1,172 to 1,442 square feet • Two- and three-bedroom oorplans • One- and two-story options • Monthly rent ranging from $2,300-$2,500 • Amenities including fenced backyards, a driveway and an attached two-car garage Much like apartment developments, Inspire Homes also o ers renters community amenities, such as a clubhouse with a tness center and
$200,000-$299,999
$300,000-$449,999
17%
14.8%
48.9%
56.3%
28.9%
34.1%
$450,000-$749,999
$750,000+
19.5% 11.3%
18.6% 11.4%
69.2%
70%
Developer The Dinerstein Companies opened Missouri City’s rst build-to-rent community in March.
Fort Bend County selling trends 2022 2023
COURTESY INSPIRE HOMES
6
Total single-family homes sold
Median price of single-family homes sold
SIENNA PKWY.
95,302
$338,295
83,854
$330,000
WATTS PLANTATION RD.
N
SOURCE: FORT BEND CENTRAL APPRAISAL DISTICT COMMUNITY IMPACT
SUGAR LAND 3335 Hwy 6 S (281) 313-4446 MISSOURI CITY 5418 Hwy 6 (281) 403-0400
SUGAR CREEK 13827 Southwest Fwy (281) 491-8628 SIENNA PLANTATION 9034 Sienna Crossing Dr (281) 778-9959
NEW TERRITORY 5720 New Territory Blvd (281) 491-0811
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